Archive for the ‘Deals Making & Closing’ category

5 Useful And Proven Ways To Start The Next Round Of Your Negotiations Excellently

October 26, 2008

After a few days of heavily packed seminar sessions, I’m updating this blog again. However, the next round of super intensive training is just about to come up soon. Nonetheless, I know that my life is just about to get even more exciting and the ride has just become more sensational. *Wink 😉

I was pleased that the participants remembered what I taught them a week ago. This particular run of “Effective Negotiation Skills” training was slightly different from the usual in the sense that it had a one week break. Both sessions were conducted on Saturdays, full day. Hence, with the one week break, participants were requested to review and practice their skills. I glad they had displayed how to apply the negotiation skills and strategies taught in my training.

And since negotiation can, from time to time, take more than one meeting; it becomes imperative that we understand how to restart the negotiation talks effectively and excellently.

Here are some proven ways you can begin your next round impressively:

1. Rebuild the rapport.

2. Review the previous agreement with tact and diplomacy.

3. Attribute credits to your counterparts when credits are due.

4. Start the session with sincerity.

5. Promote the sharing of long term views for mutual benefits.

(Source: wekie.com)

5 Truths You Must Know About Winning The Inner Game OF Negotiation And Deals Making

October 18, 2008

Yesterday saw the completion of the 2 day Negotiation and Conflict Resolution training for a very popular multi-national corporation. I’ve always enjoyed conducting such trainings and handling the questions because they are usually challenging, tough yet so prevalent in our lives.

It’s never an easy task especially when negotiation skills seem to be needed almost at every turn and nearly every facade of our life. This requires us to raise our game of bargaining to a much higher level, especially for the ambitious. For it is through negotiation that many productive and profitable deals can be made. Progress is therefore dependent on your bargaining success.

To set you on a winning negotiation advantage, you’ve have to know the truth in playing the inner game:

1. Negotiation is a test of your mental strength and dexterity.

2. Negotiation requires you to compete on thinking speed and pushes creativity limits.

3. You have to possess superior sensory awareness and acuity to win the game.

4. Negotiation demands of you to attain emotional balance.

5. The one who can exercise greater linguistic fluency wins the game.

(Source: wekie.com)

When Your Negotiation Gets Tougher: 5 Ways To Turn The Tables In Your Favor

October 12, 2008

Two days ago, I wrapped up another session of the very rigorous “Effective Negotiation Skills” training. This training on Negotiation directly addresses the urgent needs of today’s working professionals regarding their personal lives and work careers. Checking on my schedule and bookings, there are already more runs of Negotiation training on the cards in the coming weeks.

It is often likely that the negotiation and the flow of communication will get tougher before it gets better. In this case, fret not. (You better fret not.)

Here are some of the ways to turn the tables in your favor:

1. Always remain steadfast whenever the situation gets tougher.

2. Clear your mind of negativity. You cannot afford to have these thoughts at all, certainly not at this moment.

3. Listen out for the incongruence in the other party’s communication. These provide clues to the ‘cracks’ on their stand.

4. Highlight to increase or decrease their values as your bargaining chips. The more of such ‘chips’ you have, the better your position is.

5. Get the firm assurance and commitment. A nodding of head will not suffice.

(Source: wekie.com)

How You Can Negotiate For A Long Term Win? 5 Ways To Achieve The Long Relationship Through Negotiation

September 20, 2008

It’s an intensive weekend for me today as I conducted a full day of the in-house “Effective Negotiation Skills” training for a company. I admire the fact that despite today being Saturday, an official non-working day for most, they turned up in full force. And this is still Day 1. In exactly one week’s time next Saturday, I will be conducted Day 2 of this workshop, where I will teach them the various negotiation strategies and the advanced techniques of bargaining.

When you are in business, you should aim to see things through for the long term. After all, not many people want a fly-by-night business relationship if constant cash flow and profit is the ultimate aim.

Therefore, here are some ways you have achieve the long term relationship with effective negotiation:

1. Aim for win-win and appreciate this position of interest bargaining.

2. Ensure that both find value in working with each other.

3. Maintain that relationship, and make it special.

4. Create a constant compromise that allows both party to gain continuously, hence there is always incentive to keep working together.

5. Take the intangibles into account. It’s not just about money. It often beyond the cash.

What Sales And Negotiation Are Not…

August 17, 2008

Yesterday was Day One of the Effective Negotiation Skills training. Although the full day training was being held on a Saturday, I was pleased that the participants were enthusiastic with the training and understood the importance of negotiation in their work and daily lives.

All of them, who were managers of the same company, took an active role in making the learning in-depth, interactive and introspective. They had also added to the fun behind the teachings and the joy of training. This is definitely most admirable. While Day Two of this training is one week away, I trust that they will practice as much as possible wat they have learnt thus far during this whole week of work.

A part of the initial training deals with taking on a more useful understanding and paradigm of sales and negotiation. I often help the participants to better comprehend and appreciate the real nature of these important skills and their true meanings within

Hence here are some points on what sales and negotiation are not:

1. It’s not just about getting what you want, it’s about first helping your clients or other party to get what they want.

2. It’s not just about price, it’s also about the other intangibles within the deals.

3. It’s not just about facts and numbers, it’s about the way you present them.

4. It’s not just about talking, it’s your personality, your impression and your presentation skills that count.

5. It’s not just a mere listing of items, it’s really about the negotiation strategies and tactics within that play a big part of your success.

When you begin to experience a shift in the paradigm regarding sales and negotiation, you will begin to notice how sales and negotiation can be much easier and effective. In this way, your success level in selling and negotiating will Excel Beyond Excellence!

What Must You Look Out For When You Negotiate?

August 6, 2008

Over the last past 2 days, I’ve been conducting the intensive training on “Effective Negotiation Skills”. This training of mine is so well-received that another class has to be conducted too. It’s specially designed to be rigorous and informative yet highly practical and applicable to the real world of negotiation, deals making and sales.

When the participants demonstrated signs of improvement, it always brings a sense of satisfaction to mind. It’s always a reminder to me that as their trainer, I’m committed to making the training work for them and ensure that they can walk out with the skills taught.

During negotiation, there are plenty of dynamics that occur. What we must pay attention to involves the following 3 main areas:

1. Signals of interest

2. Words of Precision

3. Triggers of discomfort and anxiety

It takes practice to read people and judge the outcome well. Do practice often with your coach or mentor to improve your observation skills. Then go out and get some deals done. May you Excel Beyond Excellence!

What You Need In Order To Negotiate The Impossible

June 5, 2008

There comes a time where every negotiator may have to face his own Goliath. That’s like a near impossible negotiation situation or a gigantic counterpart who appears unconvinced. It happens. It just happens.

However, just because it seems unlikely that a deal will occur wouldn’t imply you need to give up. You can always seek to change the way you do things. Because in negotiations, so many elements come into play and so much dynamics occur within. You just have to change.

For the past 3 days, my participants and I have been working and discussing on really tough negotiation situations. In this particularly intensive training, “Effective Negotiation Skills”, the duration has been expanded into 3 full days instead of the usual 2 days. I led these leader-participants to work on the dynamics and intricacies of negotiations and deals making. The intend was to allow the participants to discover the fine art of negotiation within and be empowered to enter into negotiations with various parties. Their generous sharing and participations made the session all the more meaningful and fun.

And from these trainings and real-life encounters, here are the key things you will need when you want to negotiate the impossible and with the impossible:

1. Guts and courage. You just got to have them.

2. Awareness of the dynamics of the negotiation, the situation, the background and the other parties. Your awarenss will require you to further analyzie in your mind how things will proceed from there.

3. Rationality. Keep your mind clear no matter how pressurizing it is or how demanding the other party is.

4. The ability to associate, disassociate and re-associate. This has very much to do with gaining superb advantage over the other party. You get to connect with emotion, yet keep your thoughts stable.

5. Quick wit. This is extremely vital for comebacks in negotiation. It’s a requirement for top-notch negotiating. What do you do when sacarsm and insults are hurled at you? How do you react when sensitive issues are brought up? And can you make a life changing decision when demanded? You will face all these with less than 10 seconds to reply.

6. Sharp tongue. Not only must your wit be quick, so must your tongue. Being sharp in replying takes the key advantages away from the other party and into your mouth, err.. your hands. Learn to speak well.

7. Accurate reading skills. You must read the changes and the non-changes well. Things become very dynamic once you meet up with each other. The party who can read better and respond accordingly has the huge upper hand.

8. Challenge the paradigm. Everyone comes into negotiation and deals making with their own paradigm and perspectives of how things should be. You’ve got to be able to challenge these inner opinions and further convince them why these paradigms should allow room for accommodation. The question is… dare you challenge?

9. Coolness. Now I don’t mean be cold. Coolness and coldness are different. Coolness tends to attract people to you while coldness repels. Unless it’s a reversal strategy, let the other party know that you can handle them, no matter what. Be cool.

10. Sincerity. Behind the coolness, lies the irony. You have to be emotional enough to let them feel your sincerity; and that you truly want to establish a win-win relationship with them… for the long term. Let them know it. And let them feel it.

Negotiating the impossible is no mean feat. It’s hardly a walk in the park. It sets the standard and requires the best out of you. Face it and work on it. That’s how you Excel Beyond Excellence!

Top Reasons Why Negotiations, Sales And Deals Fail

February 22, 2008

Over these last two days was another intensive and highly interactive training on “Effective Negotiation Skills”. The participants came from a wide variety of industries and represent different organizations. We get to hear their view points and they also get to practice the many strategies taught.

One of the areas covered also included the reasons behind the failings of negotiations, selling process and deals making. To add on, here are some of the reasons:

1. A lack of rapport and trust.

2. A lack of sincerity and integrity

3. The thinking was win-lose instead of win-win.

4. There was a clash of values.

5. Did not communicate well with each other.

6. Poor employment of negotiation tactics and overall strategy.

7. Lack of awareness and display of insensitivity.

The Essential Truths You Must Know To Get Even More Sales And Close More Deals

February 12, 2008

I had just finished conducting a very intensive in-house company training on “Closing Deals-How and What?” today. This course focuses on the crucial final stage of any sales and negotiation process. And it is specifically designed to help participants close more deals and get better returns than before.

Here are more of the essential things that you must indeed keep in mind so that you can get your deals and sales going:

1. Remember that to close a deal is a natural part of the process.

2. People can detect your sincerity or the lack of it.

3. New customers tend to give smaller deals first. They do this in order to test you out. Get your foot in. Take these deals first and convert to larger deals over time.

4. Objections are the gatekeepers. Interested customers tend to have objections before giving you the deal. You must know how to handle the objections before you can close the deals.

5. Play for long term. Provide the justification in your customers’ eyes to continuously get return deals.

Top 8 Essential Things Salespeople Forget During Their Selling Process

February 9, 2008

In the midst of conducting actual sales and under the pressure, it can be easy to start forgetting certain aspects of selling. A lack of experience and practice are often common causes but they are no excuse for forgetting these essential points.

Whenever I conduct the various workshops on Sales, Closing Deals, Negotiation, Persuasion and Influence, Communication, Customer Service and the similar courses, I highlight and look out for areas where the participants can exponentially improve their relevant skills. These key areas can make the difference between a mediocre sales amateur and a super star sales performer.

The following are the top actual and essential items forgotten by salespeople when they are conducting sales:

1. Forgetting to Compose Themselves.
As a salesperson, you must remember to psyche yourself into the proper mindset whenever you conduct your sales. In fact, the more unfamiliar or unfriendly a client appears to be, the more you must compose yourself. At times, with an inexperienced salesperson, you can almost hear his teeth cluttering and heart pulsating in double quick time. That’s hardly a deal closer. Confidence within your composure is essential. Get composed, not decomposed.

2. Forgetting to Analyze the Client.
Now I don’t mean you put your client through a psychometric test or psychiatric diagnosis. Flipping out a piece of paper with odd shapes or situational questions are not quite the way to go. What I am referring to here is a quick mental analysis to assess the type of client you are facing. Take into account any of your past sales trainings where you have learnt to understand the clients’ profiles. Not understanding your client will only make you beat around the bush in the sales process, risking the annoyance of your clients and increase rejection.

3. Forgetting to Build Rapport.
Rapport is key. I repeat: Rapport is key! It reflects the sense of trust and credibility you have in the eyes of your clients. Without rapport, the sales relationship is like oil and water that refuse to mix. Clients often grow suspicious of the person that attempts to sell an unlabelled potion. If you take time to build rapport with your clients, you get better chances of pedaling your wares.

4. Forgetting to Listen.
It is often not the rampant regurgitating of a sales script that gets you the sales. It’s the listening. While an overly rehearsed sale pitch may get hits occasionally, a highly productive salesperson is able to attain more sales by doing lesser talking. When you listen and truly pay attention to your clients, they feel appreciated. Listening to your clients will also allow you to get sufficient information to sell in a superior manner.

5. Forgetting to Speak… Appropriately and Artfully.
Your word selection in your speech matters. Not every word can work the same sales magic. Not every phrase spoken in a random order will get your sales to shoot through the roof.

This calls for you to remember to use your influencing language patterns and verbal communication skills to the best of your ability. You need to select your words diplomatically to avoid upsetting your clients or getting them in an agitated manner (…unless you have already found a way to make angry customers part their money to you.) Appropriateness and artfulness in language use comes with experience. Practice them well and listen out for feedback from those who hear them. Adjust your sales vocabulary as required.

6. Forgetting to Ask for the Sale.
Sometimes the conversation goes so smoothly that it becomes more of a chit-chat session, the overly interesting topic deviates the entire purpose of that meeting up. You need to remember to ask for the sales. It’s a natural thing for clients to want your products if they find it suitable. Whenever you have transited through the process well, asking for the sale should be simple and smooth.

7. Forgetting to Make the Client the Central Element.
Within the few elements of the sales process: the salesperson, the products and the clients, the clients are the central figure. It’s about them. Let the clients feel they are respected and they are important. Allow clients to know they have a significant role to play as your partner in making the sales a mutually beneficial transaction. Provide them a most pleasant buying experience.

8. Forgetting What the Client Want.
Remember there’s a reason why clients will buy. And simply put, when clients buy, they’ve discovered what they want, be in from their own needs or because of your eloquent persuasion. However, if you truly forget the specifics of the item they want, you might just get a return of goods. Understand and remember what items make their eyes sparkle and which model they have ticked on their survey forms. Letting your clients know you have well fulfilled “what’s in it for them” is the way to create long term returning and satisfied clients.

Selling is often a rather challenging process, yet the rewards are immense. Through your practice, allow these commonly forgotten points to reemerge again. Learn to be patient as you work through the fine art of selling. Integrate these essential things and you will find your sales Excel Beyond Excellence!